人民币汇率的演变与现状分析

An analysis of the changes and current situation of the exchange rate of RMB

1994年之前,人民币汇率一直是官定汇率,自1994年人民币汇率制度改革之后,建立了有管理的浮动汇率制,近几年人民币汇率实际上钉住了美元。中国加入WTO后,人民币在1996年年底实现了经常项目下可兑换,2005年7月21日人民币汇率制度再次改革,形成更富弹性的人民币汇率机制,为人民币最终在资本项目下实现可兑换创造了渐近条件。

Before 1994, the exchange rate of RMB was fixed by officials. After 1994 RMB exchange rate system was reformed, and exchange rate system of floating has been set up to have management, and the exchange rate of RMB pegs to U. S. dollar in recent years. After China joins WTO, RMB are exchangeable under realizing the current account at the end of 1996. The exchange rate system of RMB will be reformed again on July 21,2005, will form richer and elasticcer RMB exchange rate mechanism, create the asymptotic condition in order that RMB are realized exchangeably for items of the capital.